The Adam Corporation/Group Completes Acquisition of Reliable Reports

The Adam Corporation/Group (“TAC”), a privately owned holding company, has completed the acquisition of all of the outstanding stock of Reliable Reports, Inc. (“Reliable”), an inspection services company. The three selling shareholders, Darren Evans, Brent Hagar and Leslie Meeks, will continue in their roles as key executives of Reliable.

“We are very excited about the opportunities that lie ahead for our organization,” said Darren Evans, president and chief operating officer of Reliable. “The financial strength of The Adam Corporation, combined with the talent of our existing management team, will allow us to better serve our clients and expand into new markets.”

“Reliable Reports is an outstanding addition to our portfolio of companies,” said Donald A. Adam, chairman and CEO of TAC. “We believe the opportunity for growth is compelling. The property and casualty insurance industry lacks a national inspections firm, and we believe Reliable is well positioned to eventually fill that role.”

Reliable, which has been in business for more than 30 years, provides inspection and data collection services to the property and casualty industry, primarily for underwriting purposes.

Headquartered in Lewisville, Texas, the company offers its services to insurance carriers and agents in 10 states – Texas, Oklahoma, Kansas, Missouri, Louisiana, Arkansas, Mississippi, Alabama, Georgia, and Tennessee. Reliable has 240 employees, including 65 at its headquarters in Lewisville and 175 throughout its four regional offices, which are located in Houston, Oklahoma City, Baton Rouge and Atlanta.

TAC is a privately owned holding company headquartered in Bryan, Texas. Since its inception in 1977, TAC has acquired and built companies in such diverse industries as cable television, general contracting, real estate development, banking and financial services.